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-   -   If you could go back - one Forex thing you'd tell youself? (https://www.forexfactory.com/showthread.php?t=798241)

plymgary Jul 26, 2018 6:09am | Post# 1

If you could go back - one Forex thing you'd tell youself?
 
For all of us who have been trading Forex for a couple of years we'll have learnt lots along the way. However, of all the things you have learnt what one thing would you have wished you'd known at the beginning? Mine is:

Follow the long term trend on both the traded TF, but also all the higher ones (for confirmation).

What would you tell yourself?

Rennaissance Jul 26, 2018 6:27am | Post# 2

Quit trading.

olvus Jul 26, 2018 6:30am | Post# 3

Can I predict 90% of answers?

stay away

Fauzaan Jul 26, 2018 6:45am | Post# 4

What would you tell yourself?
Don't try to learn a lot of things at once... focus on one of them!

what one thing would you have wished you'd known at the beginning?
Reversal based trading instead of chasing the trend on the extremes of the trend

bulltrader13 Jul 26, 2018 6:46am | Post# 5

Forex isn't like gambling... Gambling you actually have a chance to win

michisuperfr Jul 26, 2018 6:58am | Post# 6

Understand all assets and what drives them. Don't only watch a currency vs another.

5aztv88 Jul 26, 2018 7:52am | Post# 7

if i could get back at first day,i would stay a way from indicators and just learn and practice price action and following news to be familiar with fundamental .

Redbaron81 Jul 26, 2018 5:23pm | Post# 8

Forget about forex, buy houses...would be a millionaire now...

Divergence Jul 26, 2018 5:52pm | Post# 9

Trade the futures emini Nasdaq and nothing else

wasntme Jul 26, 2018 5:55pm | Post# 10

find a rich woman and be a kept man

T4Trade Jul 26, 2018 5:57pm | Post# 11

I should have learnt forex professionally than on my own ,it took me longer to get the edge and unnecessary habit of using lagging indicators rather than just focusing on PA and forward looking indicators.

DonPato Jul 26, 2018 7:53pm | Post# 12

Strap in...put your learning cap on...and stay away from Forex Factory. The journey is years long...don't get distracted

George AUS Jul 26, 2018 11:18pm | Post# 13

Can I predict 90% of answers? stay away
Howdy all,,,
In reply to this quote and also the opening of the thread point (Follow the long term trend on both the traded TF, but also all the higher ones (for confirmation) ,, this is what i would like to add from my humble opinion and experience .
When i look back at mt journey till now ,, what i know now i would NOT have known about it at that time ,, so ,, we could not have told ourselves anything as we have developed along the way ,, so for me it is not about what would have told myself ,,, it is all about developing day by day ,, swing by swing ,, trade by trade .
And in reply to the quote above in particular ,, thats exactly what i was trying to express ,, and yes i can predict turning points with well over 95% accuracy now ,, as anything in life can be achieved if we are serious enough to want to master it .
One main thing i have learnt and that is ,,, and its for the benefit of anyone that wants to listen , and everything is based on normal trading environment and not news events .
do NOT rely and trust anything that is NOT consistent and accurate time after time ,,, and that means ALL indicators , MACD ,, STOCHASTIC ,, RSI ETC ETC ETC .
The one thing that i have found consistent and 100% is PRICE ACTION and its behavior , hence how i am able to get extremely high accuracy rate .
My experience has been that once one can master a full understanding of how this market moves ,, especially the WHY and WHERE TO ,,, ones success is 100% guaranteed ,, and yes those 2 points can be answered and with a high level of accuracy .
Hope this will get some of the newer traders thinking deeper .
Again ,, i will close with this statement ,,, there is NO right and wrong ways in life ,,, everything is about what one finds good enough for themselves ,, so i am not saying what other people do is wrong ,, i am only expressing what i have come to see in this game .
Cheers

George AUS Jul 26, 2018 11:27pm | Post# 14

Strap in...put your learning cap on...and stay away from Forex Factory. The journey is years long...don't get distracted
Love the way u have summed it up ,,, and could not agree more ,,,, dedication , dedication , dedication is the secret ,,,
BUT 1 thing i will not agree with u on ,, and that is staying away from forums ,, cause for me i only look at it when i am little bored and the market is not doing much ,,, i find it nice to see what and how others think and their level of understanding about this game .
I hardly post anything , and i do not start any threads now ,, but enjoy doing what i said above ,,,, so i do express my views where i see i need to for the benefit of others .
Love being apart of a community of fellow traders ,,, although we need to close our eyes to some of the rubbish that is dished out very un respectfully sometimes hahahaha.
Cheers

RondaRousey Jul 27, 2018 2:00am | Post# 15

Find some of the worst traders on FF and there are so many of them to choose from, ranging from red flag members to newbies, AND DO THE OPPOSITE.

Simple way to be profitable

Works all the time.

Use this "hopeless trader indicator" to your advantage


gravitist Jul 27, 2018 2:10am | Post# 16

I'd tell myself to never trade forex. It's a losing proposition.

genghistar Jul 27, 2018 2:25am | Post# 17

Wish I was what I am today 3 years ago when I was bleeding money and needed that money most. Now it's not the money anymore....

GS

DonPato Jul 27, 2018 12:19pm | Post# 18

{quote} Love the way u have summed it up ,,, and could not agree more ,,,, dedication , dedication , dedication is the secret ,,, BUT 1 thing i will not agree with u on ,, and that is staying away from forums ,, cause for me i only look at it when i am little bored and the market is not doing much ,,, i find it nice to see what and how others think and their level of understanding about this game . I hardly post anything , and i do not start any threads now ,, but enjoy doing what i said above ,,,, so i do express my views where i see i need to...
It is good to see what others in this game are currently doing and what might work for you. And I agree that sometimes you will see something on FF that will inspire your own ideas and improve your skills. However, that must also be tempered with the distractions that occur for one that has not yet found his/her own stride and come up with a cogent plan that works. The distractions of one "system" after another keeps (kept me) chasing our tails and making practically no progress toward the goal. Where, if just left on our own, to discover and study we might have shortened that learning curve without all the distraction and dead end system chasing.

I too enjoy engaging with like minded individuals and I see my own (very slow) development in many posts and comments here, and I think back and say to myself, "I remember when I thought that way..." I often wonder what would've happened if I had just let myself develop in my "cave" of study. I have found that I waisted probably a good 10 years pursuing...indicators, indicator tweeking, coding, automated "systems", all to come full circle back to price and then to actually delve down into what causes price to move and then finally into market structural components. It has been a long ride, and I think that most would come up with the same conclusion if they were left with out distractions to find the answers that work best for them.

4experience Jul 27, 2018 4:37pm | Post# 19

I finally think I understand this game. It would have been impossible for me to reach the goal without considering trading as a strategy game and a passion. It took me five years. If I had one thing to say it'is enjoyed trading and amuse you. You will lose money but make sure that the sum is painless

Ill-b-back Jul 27, 2018 9:05pm | Post# 20

Sell the Pound at 1.7185 and hold it for 2 years, adding to my position on each and every rally.


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